NSE Nifty and BSE Sensex today: All you need to know about today's performance
The Nifty continued with its winning streak for the sixth straight week. On December 11, the index swung sharply in both directions. The hourly chart shows that the index is nicely trading in a rising channel. On the higher side, the Nifty stumbled near the upper channel line but the selling was absorbed near the lower end of the channel. The lower channel line coincided with the 40-hour exponential moving average & the hourly lower Bollinger Band near 13400. The bulls rushed in near these parameters and pushed the index back in the green.
The momentum indicator is bullish on the daily chart. On the hourly chart, the Nifty is above the 20-hour moving average (HMA) and the 40-HEMA, i.e. 13491 and 13402, respectively: Reuters